The deal comes after Business Insider highlighted the prevalence of market manipulation and scams in crypto secondary markets.

LONDON — Global cryptocurrency exchange Bitfinex has partnered with a market surveillance company to try and stamp out market manipulation on its platform.

Market surveillance software provider Irisium announced on Wednesday that it is now working with Bitfinex to "identify and investigate manipulative behaviours and suspicious trading practices on its exchange."

Bitfinex CTO Paolo Ardoino said in a statement on Wednesday: "To meet the complex needs of an evolving digital asset class and to protect our sophisticated participants, Bitfinex requires an agile surveillance system built on the latest technology.

"Together with our experienced team, the Irisium platform will provide the surveillance needed to protect our participants and our venue from trading abuses."

Irisium CEO Alastair Goodwin said: "We are at a tipping point in the development of the digital currency marketplace. As professional traders and sophisticated investors enter the market, exchanges need to deploy modern surveillance tools that can detect abusive trading practices and protect their customers."

The US Commodity Futures Trading Commission reportedly issued subpoenas to Bitfinex in December and Tether, the company behind a digital coin that claims to track the US dollar and was cofounded by the same people at Bitfinex.